September 25 2014

CFTC Charges Gregory Christopher Evans with Unauthorized Trading and Concealing Trading Losses

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a Complaint charging Gregory Christopher Evans, a former risk management consultant and associated person of a registered Futures Commission Merchant (FCM) and provisionally registered Swap Dealer (the “Firm”), with fraud and unauthorized trading. Evans is a resident of Kansas City, Missouri.

The CFTC’s civil Complaint, filed on September 24, 2014, in the U.S. District Court for the Western District of Missouri, alleges that from at least January 2013 through July 21, 2013, Evans intentionally entered into thirty (30) bilateral swap transactions on behalf of the Firm with a customer without customer consent. As alleged, Evans engaged in these unauthorized swap transactions in order to conceal trading losses from his customers and the Firm. The unauthorized transactions resulted in losses of approximately $1,213,578.94 for the Firm’s customer, which were reimbursed by the Firm, according to the Complaint.

In its continuing litigation, the CFTC seeks restitution for monies the Firm paid to compensate customers for their trading losses, civil monetary penalties, permanent registration and trading bans, and a permanent injunction prohibiting Evans from violating federal commodity laws, as charged.

CFTC Division of Enforcement staff members responsible for this case are Sophia Siddiqui, Dmitriy Vilenskiy, Allison Baker Shealy, John Einstman, and Paul G. Hayeck. Kevin Piccoli, Thomas J. Bloom, Jan Ripplinger, Lauren Fulks, and Marcus T. Shobe from the Division of Swap Dealer and Intermediary Oversight also assisted with this matter.

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Last Updated: September 25, 2014